The Princess cut diamond is the second most popular cut shape for diamonds, next to the Round Brilliant cut diamond. The top of the Princess cut diamond is cut in a square or rectangular shape, and the overall shape is similar to that of an inverted pyramid with four beveled sides. The Princess cut diamond is a relatively new diamond cut, having been created in the 1970s. The Princess cut diamond has gained in popularity in recent years as a more distinctive alternative to the traditional Round Brilliant cut, in which the top of diamond, called the crown, is cut in a round circle and the bottom, called the pavilion, forms a point like a cone.
One of the main characteristics of a diamond is light performance. The higher the light performance grade, the greater the brilliance and fire of the diamond. Light performance is impacted by, among other things, the number, shape, angles and arrangement of the facets on the cut diamond. Typical Princess diamonds contain from 49 to 61 facets. However, even with this number of facets, compared to Round Brilliant cut diamonds, typical Princess cut diamonds available to consumers lack both fire (colored light) and brilliance (white light).
In addition, the Princess cut diamond is usually less expensive than a Round Brilliant cut diamond of the same carat weight because it retains about 80% of the original rough diamond, as opposed to the Round Brilliant cut diamond which retains only about 50% of the rough diamond. The ability to retain more crystal weight makes the Princess cut diamond popular amongst diamond cutters.